Commercial Real Estate Development & Acquisition

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Sanders Capital Partners acquires Adamsville shopping center

Birmingham real estate developer Sanders Capital Partners LLC has acquired a shopping center for $3.2 million.

The retail center, called Adamsville Town Center, is located in Adamsville at 2400 Palomino Lane. It has 26,005 square feet of space among two buildings sitting on 2.64 acres.

The property has eight tenants, predominantly retail, including Dollar General, Papa John’s, ABC Select Spirits and ALFA Insurance, according to a Sanders Capital press release. It is also located near a Walmart.

“Like many of our centers, we were drawn to Adamsville Town Center because of its durable, value-centric tenancy and proximity to a strong national retailer like Walmart,” said Jackson Stewart, executive vice president and general counsel for Sanders Capital Partners. “We have immediate plans to make aesthetic and practical improvements to the property that we believe will be well received by our tenants and their customers.”

Sanders Capital builds its portfolio by acquiring retail centers, medical properties, strategic land and light industrial properties primarily in the Southeastern and Midwestern U.S., it said in the news release.

Brooks Corr, a partner at The Retail Companies, represented the seller in the deal and coordinated the transaction, he said.

The property was previously sold in 2015 to Birmingham-based Golden Bell Capital and a group of co-investors for $2.7 million.

Originally Published by Joshua Mann - Birmingham Business Journal

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